Patriot Battery Metals Inc. announced it has commenced mobilization for the winter phase of its 2023 drill campaign at its wholly owned Corvette Property, located in the James Bay Region of Quebec. Additionally, the Company is in the final stages of construction of a winter road extending site access from the all-season Trans-Taiga Road to the CV5 drill area. The 2023 winter drill program will be more expansive than the 2022 winter drill program, beginning with three drill rigs in January and increasing to five drill rigs from early February through mid-April.

A minimum meterage of 20,000 m is anticipated to be completed over the period. The primary objectives of the drill program are to further delineate the extent of the CV5 Pegmatite, as well as infill drilling to improve the geological model to achieve indicated mineral resource confidence to support a future prefeasibility study. The winter drilling will primarily target the eastern extensions of the CV5 spodumene pegmatite and secondary lenses, moving towards the CV4 Pegmatite cluster situated approximately 2.5 km along strike.

An understanding of the near-surface lateral behavior of the CV5 Pegmatite is needed to refine locations of certain infrastructures required for Prefeasibility level advancement, as well as help define associated field programs planned for 2023. The construction of the approximately 20 km long winter road is nearing completion and will provide direct road access from the all-season Trans-Taiga Road, located north of the Property, to the primary drill area at CV5. The road access will increase efficiency of the drill program by reducing dependency on helicopters for drill rig, equipment, and personnel movements.

The overall 2023 field campaign will have multiple facets including advancing the CV5 Pegmatite to an initial mineral resource estimate, scheduled for the first half of 2023, in addition to further delineation at the CV13 Pegmatite Cluster. The drill programs will be coupled with numerous multi-disciplinary studies as the Project advances aggressively towards Prefeasibility. The first drill hole collar of the 2023 drill campaign is anticipated shortly, with the first three (3) drill rigs and equipment currently on site and crews now being mobilized.

The two (2) additional drill rigs are anticipated to arrive on site later in early February as the winter freeze up continues and lake ice thickens sufficiently to support drilling over the shallow glacial lake that overlies portions of the deposit. The CV Lithium Trend is an emerging spodumene pegmatite district discovered by the Company in 2017 and spans more than 25-km across the Corvette Property. The core area includes an approximate 2.2 km long spodumene pegmatite (the ‘CV5 Pegmatite') and multiple proximal secondary spodumene pegmatite lenses.

This corridor has returned drill intercepts of 159.7 m at 1.65% Li2O and 193 ppm Ta2O5 (CV22-042), 152.8 m at 1.22% Li2O and 138 ppm Ta2O5 (CV22-030), 86.2 m at 2.13% Li2O and 163 ppm Ta2O5 (CV22-044), and 70.1 m at 2.22% Li2O and 147 ppm Ta2O5, including 40.7 m at 3.01% Li2O and 160 ppm Ta2O5 (CV22-017). The Company has completed ninety-five (95) NQ core size drill holes, totalling 27,470 m, at targets along the CV Lithium Trend – eighty (80) drill holes totalling 24,709 m at the CV5 Pegmatite and proximal lenses, fourteen (14) drill holes totalling 2,647 m at the CV13 Pegmatite cluster, and one (1) drill hole totalling 114 m at the CV12 Pegmatite cluster. Core assay results for thirty-eight (38) drill holes remain to be reported – twenty-four (24) at the CV5 Pegmatite cluster and fourteen (14) at the CV13 pegmatite cluster.

To date, six (6) distinct clusters of lithium pegmatite have been discovered across the Property – CV5 Pegmatite and associated lenses, CV4, CV8-12, CV9, CV10, and the recently discovered CV13. Given the proximity of some pegmatite outcrops to each other, as well as the shallow till cover in the area, it is probable that some of the outcrops may reflect a discontinuous surface exposure of a single, larger pegmatite ‘outcrop' subsurface. Further, the high number of well-mineralized pegmatites along the trend indicate a strong potential for a series of relatively closely spaced/stacked, sub-parallel, and sizable spodumene-bearing pegmatite bodies, with significant lateral and depth extent, to be present.